Coinsurance or contribution clause.

Contracts of insurance against loss or damage by fire or other perils may contain a coinsurance or contribution clause or clause having similar effect, provided the form setting up the terms of the same has been approved by the commissioner of insurance. [C97, §1746; S13, §1746; C24, 27, 31, 35, 39, § 8990 – 8995, 8997; C46, 50, 54, §515.111 – 515.116, 515.118; C58, 62, 66, 71, 73, 75, 77, 79, 81, §515.111 ] 2007 Acts, ch 152, §29 CS2007, §515.104